What is your most valuable asset?

How do you ensure that you have the right insurance for your most valuable asset?

In this episode we look at the 4 different types of personal risk insurances:

1. Life insurance - which most people have heard of - with life insurance your estate receives a lump sum in the event of your death. Most policies will also pay out early if you can prove you have less than 12 months to live

2. Total and Permanent Disability insurance (TPD) - which pays you a lump sum if you are permanently disabled

3. Income Protection insurance  - which replaces your income if you are unable to work due to sickness or injury

4. and finally, one not so many people will have heard of, which is Trauma or Critical Illness insurance that pays a lump sum if you are diagnosed with a specific injury or illness such as cancer or a heart attack.

What are the key considerations regarding these insurances?

The cost of insurance premiums is on the rise - we offer 3 suggestions for 3 ways to reduce those premiums

We answer 2 listener questions:

From Bridgette: 

"Hi, I’m enjoying your podcasts.

What information could you provide on protecting income? I.e insurance. It’s very expensive insurance and could go onto the mortgage but is it needed??"

From Tania:

“Great podcast. My question is about mortgage protection insurance. Is this the same as income protection insurance?”

Thanks so much Bridgette and Tania for your questions

If you have any questions or suggestions please email us at:

[email protected]

 

We need to make it clear that we do NOT provide specific financial advice on this show, it is just general advice and discussion. If you want advice specific to your situation you need to go and see a financial adviser or financial professional.

And if you are enjoying our podcast please do leave us a review wherever you are listening